This Saturday, 335 acres in central New York will be offered for sale at a live auction. The large-acreage, equestrian property is located in the village of Fly Creek, just outside of Cooperstown, NY. It was previously for sale for nearly $3 million. The financial institution that owns the property retained Miami-based auction house Platinum Luxury Auctions to manage the sale in cooperation with listing brokerage Keller Williams Capital District. Listing agent Jill Cunningham is representing Keller Williams in the sale.
The +/-335 acres represent the sum of two, separate parcels that comprise the property. One, +/-133-acre parcel contains a large residence along with a collection of outbuildings and equestrian amenities. A vacant, +/-204-acre parcel includes a conservation easement, but allows for limited development and other uses. The parcels may be offered separately or collectively at the auction, depending upon bidder interest, according to Platinum.
Each parcel will be sold subject to lender confirmation, meaning that the lender that owns the parcels can accept, reject, or counter the highest bid(s). “While this form of lender-directed auction represents a very small percentage of our annual sales, it is an effective model for the sale of properties owned by financial institutions, largely because buyers understand that banks don’t want to be in the property business. They want capital, hence their motivation to sell,” stated David Enriquez, Platinum’s Vice President of Operations.
The property’s +/-133-acre parcel includes a beautiful, stone-and-shingle residence of more than 9,000 sf, with 8 bedrooms, 10 full and 2 half baths. Prominent features include two kitchens (one with commercial-grade appliances), an indoor pool and spa accented by a lounge and stone fireplace, a large bar and lounge, and a multi-sport court.
Equestrian amenities are ample, and include a 22-stall barn with a heated tack room and viewing lounge that offers two full baths, a laundry area and office. There is also an indoor riding arena measuring 80-ft x 140-ft. Outside, a 100-ft x 200-ft arena beckons when the weather warms, while a separate carriage house offers an additional 10 stalls and one-half bath, in addition to an upper-level apartment with 2 bedrooms, 1 bath and a workshop.
The adjacent, vacant parcel includes +/-204 beautiful acres. While much of the acreage is subject to an “Open Space/Farm” easement with the Otsego Land Trust, 14 acres are designated as buildable area. The parcel also includes extensive forestation/timber. Details of this easement are on file in a formal Deed of Conservation Easement that is available for review by prospective buyers.
Bidders who are interested in participating in the auction are encouraged to preview the property between the hours of 11am and 3pm ET each day this week, through Friday. For directions to the property, information on bidder registration or other auction procedures, visit NewYorkLuxuryAuction.com, or contact Platinum’s project manager, Tawny Wolf, at 800.936.2865.